Swing point levels

Swings · Milana Trades

Swings shows the most recent swing highs and swing lows on your chart without clutter. Each swing gets a small dot at the extreme and a short dotted line to the right, so you can see key levels and the structure of the move at a glance.

How to read it

• Blue dot and line: the swing is higher than the previous swing of its kind. A higher high or a higher low is a rising structure.
• Grey dot and line: the swing is lower than the previous swing of its kind. A lower high or a lower low is a falling structure.
• The dotted line is cut off at the candle where price took out the swing (optional). The line ends where the level stops being relevant.

How swings are detected

A swing high is a candle whose high is above the highs of N candles on its left and not exceeded by the N candles on its right. A swing low works the same way in reverse. You set the number of candles on each side. A swing is confirmed only after the right-hand candles have closed, so it appears with that delay.

Features

• Shows only the last N pairs of swings (default 3), so the chart stays clean
• Adjustable line length in candles
• Optional cut-off when price takes the level
• Dots can be switched on or off, and their size is adjustable (1–5)
• Fully customizable colours
• Works on any symbol and timeframe
• Light on resources: it redraws only when something changes

Inputs

• Candles on the left: how many candles to the left must be lower (for highs) or higher (for lows). Default 3.
• Candles on the right: how many candles to the right confirm the swing. Default 3.
• Last pairs: how many swing highs and lows to show. Default 3.
• Line length (candles): how far the dotted line extends. Default 6.
• Cut when taken: end the line when price takes the swing. Default on.
• Dots: show dots at the swing points. Default on.
• Dot size: 1 to 5. Default 1.
• Colour for higher swings: default blue.
• Colour for lower swings: default grey.

Reading the context

Each new swing is compared with the previous swing of the same kind, and the colour tells you the result.

• Bullish context. Swing highs keep getting higher and swing lows are lifted above the previous ones, so most dots and lines are blue. Buyers are pushing price up and defending each pullback. The more consecutive blue swings you see, the stronger the bullish pressure.
• Bearish context. Swing highs and lows keep getting lower, so most dots and lines are grey. Sellers are in control, and each bounce is weaker than the last.
• Weakening trend. In an uptrend, a grey high appears (a lower high) or a low breaks below the previous one. Buyers are losing strength and a pullback or reversal may be forming. The same applies in reverse in a downtrend.
• Range or transition. Blue and grey swings alternate and no side is dominant. The market is consolidating or deciding.